Tidal Investments LLC Has $1.53 Million Position in The Toro Company (NYSE:TTC)

Tidal Investments LLC lifted its holdings in The Toro Company (NYSE:TTC - Free Report) by 79.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,646 shares of the company's stock after acquiring an additional 7,798 shares during the period. Tidal Investments LLC's holdings in Toro were worth $1,530,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arizona State Retirement System increased its position in shares of Toro by 0.4% during the second quarter. Arizona State Retirement System now owns 28,680 shares of the company's stock worth $2,682,000 after acquiring an additional 110 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Toro by 0.3% during the second quarter. Nisa Investment Advisors LLC now owns 46,925 shares of the company's stock worth $4,405,000 after purchasing an additional 123 shares during the last quarter. Lindenwold Advisors INC grew its stake in Toro by 2.8% in the third quarter. Lindenwold Advisors INC now owns 4,612 shares of the company's stock worth $400,000 after purchasing an additional 125 shares in the last quarter. Toronto Dominion Bank raised its stake in Toro by 1.4% during the second quarter. Toronto Dominion Bank now owns 10,060 shares of the company's stock valued at $941,000 after buying an additional 136 shares in the last quarter. Finally, CWM LLC raised its position in shares of Toro by 15.5% during the 3rd quarter. CWM LLC now owns 1,063 shares of the company's stock valued at $92,000 after acquiring an additional 143 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. DA Davidson reduced their price target on shares of Toro from $103.00 to $88.00 and set a "neutral" rating on the stock in a research report on Monday, September 9th. Robert W. Baird dropped their price target on Toro from $102.00 to $92.00 and set a "neutral" rating on the stock in a research report on Friday, September 6th. Northland Securities restated a "market perform" rating and set a $100.00 price objective on shares of Toro in a research report on Friday, September 6th. Finally, StockNews.com upgraded shares of Toro from a "hold" rating to a "buy" rating in a research report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Toro has a consensus rating of "Hold" and an average price target of $93.33.

Toro Price Performance

Shares of Toro stock traded down $3.87 on Wednesday, hitting $81.44. The company had a trading volume of 2,414,832 shares, compared to its average volume of 857,869. The company has a market cap of $8.36 billion, a PE ratio of 21.38 and a beta of 0.70. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.94 and a quick ratio of 0.85. The Toro Company has a 52 week low of $77.15 and a 52 week high of $102.00. The business has a 50-day simple moving average of $84.25 and a 200-day simple moving average of $88.12.

Toro (NYSE:TTC - Get Free Report) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.09 billion. Toro had a net margin of 8.89% and a return on equity of 25.94%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 EPS. Research analysts expect that The Toro Company will post 4.16 EPS for the current fiscal year.

Toro Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 23rd will be paid a $0.38 dividend. This is a positive change from Toro's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, December 23rd. This represents a $1.52 dividend on an annualized basis and a yield of 1.87%. Toro's dividend payout ratio (DPR) is currently 39.90%.

Toro announced that its board has initiated a share buyback plan on Tuesday, December 10th that allows the company to repurchase 4,000,000 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Toro Profile

The Toro Company designs, manufactures, markets, and sells professional turf maintenance equipment and services. It operates through two segments: Professional and Residential. The Professional segment offers turf and landscape equipment products, including sports fields and grounds mowing and maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, and other maintenance equipment; rental, specialty, and underground construction equipment, such as horizontal directional drills, walk and ride trenchers, stand-on skid steers, vacuum excavators, stump grinders, turf renovation products, asset locators, pipe rehabilitation solutions, materials handling equipment, and other after-market tools; and snow and ice management equipment, such as snowplows, as well as stand-on snow and ice removal equipment, such as snowplow, snow brush, and snow thrower attachments, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.